Carnegie Investment Counsel Blog

Monthly Market Commentary: April 2025

Posted by Carnegie Investment Counsel on Apr 1, 2025 8:30:00 AM

What We're Watching in April 2025

 

Tariffs: A Familiar Headwind with New Implications

Tariffs are once again making headlines — and history offers important perspectives. In 2018, during the first Trump administration, when tariffs were first introduced on a wide scale, markets reacted with caution but quickly digested the implementation once the total amount was clearly defined. Today, a similar narrative is unfolding, though this time the effects are more pronounced — not because tariffs have been enacted, but because of the uncertainty on the final outcome this past month.

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Topics: Market

A Brief History of Tariffs in the US

Posted by Lynn Najman on Mar 25, 2025 9:32:09 AM

The current on-again/off-again conversation about tariffs on imported goods is not new. In fact, before the general income tax was passed in 1913, tariffs were one of the few ways our government had to raise money, often comprising up to 95% of federal revenue. To some extent, tariffs in the developing American economy were part of the rivalry between the agricultural-based economy of the South and the developing industrial-based economy of the North. Some historians have pointed to the Tariff of 1828 (called The Tariff of Abominations), meant to aid small Northern industry, as the starting point for talk of Southern secession, eventually leading up to the Civil War. 

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Topics: Market

Tax Season Prep: Planning Before the Deadline

Posted by Carnegie Investment Counsel on Mar 18, 2025 2:51:39 PM

As the April 15th tax filing deadline approaches, March is the ideal time to revisit your tax strategy, especially for families with trusts or more complex financial situations. By proactively addressing key tax areas, you can potentially reduce your tax liability and better position yourself for future financial success. Here are five essential tax strategies to consider this season:

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Topics: Financial Planning

Monthly Market Commentary: March 2025

Posted by Carnegie Investment Counsel on Mar 3, 2025 9:30:00 AM

One of the most anticipated aspects of President Trump’s proposed tax policies is curtailing taxes on Social Security earnings, tips, and overtime pay. The proposed budget makes no mention of these structural taxation changes for these income streams, and it remains to be seen if it is addressed in the upcoming negotiations related to the extension of the Tax Cuts & Jobs Act provisions.

President Trump’s tax plan proposes favoring specific forms of income. Initial projections from the Institute on Taxation and Economic Policy (ITEP) group show the upper two brackets of earners will benefit, as these households are more likely to take full advantage of the carve-outs. Meanwhile, lower- and moderate-income households may see little benefit due to existing exemptions and the progressive tax structure. While details remain subject to legislative negotiations, these potential changes will be closely watched to assess their long-term implications. Source: https://itep.org/a-distributional-analysis-of-donald-trumps-tax-plan-2024/ 

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Topics: Market

2025 Heckerling Insights

Posted by Carnegie Investment Counsel on Feb 25, 2025 3:28:34 PM

The Heckerling Estate Planning Institute, sponsored by the University of Miami (Coral Gables) School of Law, was held in Orlando, FL, the week of January 12th. This was the 59th consecutive year of the conference, bringing together more than 4,100 attendees, consisting of wealth managers, probate attorneys, accountants, life insurance professionals, trust officers, charitable planned giving officers, financial planners and IRS Estate and Gift Tax Agents. Heckerling is the largest such gathering and has long been regarded as the Platinum Standard for practitioners representing clients throughout the U.S. and abroad. Each session is conducted by a distinguished probate practitioner or law school scholar. Discussed below are some of the current pressing topics of interest to clients served by Carnegie Investment Counsel.

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Topics: Financial Planning

Federal Solar Tax Credit for Savvy Investors: Save With the Sun

Posted by Carnegie Investment Counsel on Nov 1, 2023 9:00:00 AM

As the world increasingly embraces sustainable energy solutions, the popularity of solar panels has soared for both residential and commercial energy generation. Beyond the environmental benefits, solar energy offers a plethora of tax incentives , like the federal solar tax credit, that can significantly bolster the financial position of savvy individuals. 

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Topics: Taxes

Successful Financial Planning During Divorce: Building a Secure Future

Posted by Carnegie Investment Counsel on Oct 18, 2023 9:30:00 AM

Divorce can be emotionally and financially challenging, but with careful financial planning during divorce, you can navigate this difficult phase with confidence. Here are the financial strategies you need to get through this arduous time and build a secure future.

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Topics: Financial Planning

Are You Raising Financially Responsible Children? 6 Tips to Empower the Next Generation

Posted by Carnegie Investment Counsel on Oct 4, 2023 10:00:00 AM

As a parent, you want to prepare your children to navigate the world confidently, and that includes the world of money. Instilling healthy financial habits from an early age will help set them on the path to being financially responsible children. But how do you know if you’re instilling those essential habits? Here are six tips: 

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Topics: Financial Planning

Early Retirement: Strategies and Factors to Consider

Posted by Carnegie Investment Counsel on Sep 6, 2023 1:37:00 PM

Early retirement can be an enticing idea, but it requires careful consideration and planning.

Retirement…the golden phase of life that many of us aspire to achieve, where we can bid farewell to the daily grind and embrace the freedom to pursue our passions. Yet there is a lot to consider before making the leap, even if you have the financial resources available. 

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Which Retirement Savings Account Is Right for You? Optimizing Retirement Savings

Posted by Carnegie Investment Counsel on Aug 25, 2023 9:45:37 AM

What do you see when you envision your retirement? Are you on a sailboat in the Mediterranean? Baking cookies with your laughing grandchildren? Starting up that small business you were always passionate about? Writing that book like you always wanted? Realizing your dreams requires financial resources and a well-structured plan that optimizes savings and minimizes tax burdens.

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